Ethanol plant in Oregon fetches $15M in auction

A judge has ordered the sale of Cascade Grain Products' ethanol plant in Clatskanie, Ore., to the sole bidder, JH Kelly, for $15 million. The plant was the largest ethanol-production facility in the state before Cascade Grain filed for bankruptcy in January amid rising corn prices and declining oil prices. The plant owes $120 million to a group of secured creditors, including $20 million to the state of Oregon.